The high degree of centralization in many major cryptocurrencies, such as Polygon (MATIC) and Shiba Inu (SHIB), poses a serious threat to market stability. With the top ten wallets controlling such a significant portion of the total market capitalization, there is a risk of price manipulation and increased volatility. These large holders have the power
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The crypto industry has been experiencing a significant shift away from the UK in recent years, with many firms attributing this move to burdensome regulatory processes. According to a report by the Financial Times, registrations for crypto asset exchanges and custodian wallet providers with the UK’s Financial Conduct Authority (FCA) have dropped by more than
Ethereum co-founder Vitalik Buterin has once again caused a stir in the crypto community by transferring a significant amount of ETH. According to a report from Lookonchain, Buterin moved 800 ETH, valued at $2.01 million, to a multisig wallet. Shortly after, 190 ETH from this wallet was exchanged for 477,000 USDC, a stablecoin pegged to
Floki Inu (FLOKI) recently experienced a significant drop in price, leading to a loss of nearly 20% in value. This decline resulted in FLOKI losing its position among the top 5 meme coins, with its market capitalization falling to $1.23 billion. Surprisingly, Bonk Inu (BONK) managed to surpass Floki Inu, claiming the fifth spot with
A former Kansas bank executive, Shan Hanes, was recently sentenced to 293 months in federal prison for his involvement in a cryptocurrency fraud scheme that led to the collapse of Heartland Tri-State Bank (HTSB). Hanes, who served as the CEO of HTSB, pleaded guilty to embezzling $47.1 million through unauthorized wire transfers to a cryptocurrency
As the cryptocurrency market grapples with uncertain price movements and lack of clear direction, the Ethereum (ETH) network is on the brink of a major transformation with the upcoming Pectra upgrade scheduled for the first quarter of 2025. This upgrade has garnered significant attention from bullish analysts who believe it could be the driving force
Shibarium, a layer-2 blockchain solution developed on the Ethereum network, has made significant strides in the past year. The platform, dedicated to supporting the growth of the Shiba Inu ecosystem, has implemented various upgrades and enhancements to improve network performance and scalability. Since its inception, Shibarium has processed over 418 million transactions, reaching a significant
Cryptocurrency exchange Binance has announced that it will be performing wallet maintenance for The Open Network (TON) on August 26. During this maintenance period, TON deposits and withdrawals will be temporarily suspended. However, trading will not be affected by this maintenance. The maintenance is expected to last for approximately two hours, after which all services
The DeFi Education Fund and the Blockchain Association have raised significant privacy and security concerns regarding the Securities and Exchange Commission’s (SEC) Consolidated Audit Trail (CAT). The CAT, launched in April, aims to track all securities trades across US markets, creating the largest government-mandated collection of personal financial data in history. The NCLA initiated a
In recent times, the Layer 2 network landscape has witnessed a significant shift, with Base, an Ethereum Layer 2 network incubated by Coinbase, making impressive strides. According to research conducted by IntoTheBlock, Base now boasts nearly 40% more daily active addresses compared to its competitors, Arbitrum and Optimism. This substantial growth underscores Base’s increasing dominance